Cisco quarterly revenue beats estimates

FILE PHOTO: The logo of U.S. networks giant Cisco Systems is seen at their headquarters in Issy-les-Moulineaux, near Paris, France, April 3, 2018. REUTERS/Philippe Wojazer/File Photo

(Reuters) – Cisco Systems Inc reported quarterly revenue above Wall Street estimates on Wednesday, lifted by growth in its traditional business of selling routers and switches, as well as in its newer focus areas such as cyber security and software.

Net income rose to $3.04 billion, or 69 cents per share, in the third quarter ended April 27 from $2.69 billion, or 56 cents per share, a year earlier.

Total revenue rose to $12.96 billion from $12.46 billion.

Analysts on average had expected revenue of $12.89 billion, according to IBES data from Refinitiv.